Shares in major suppliers for Apple are taking a hammering Thursday after the tech giant warned that it expects revenues to be as much as $9 billion lower than previously forecast in the first quarter of the year.

Apple's stock is down around 7.7% in premarket trading, or more than $56 billion in market capitalization. The news also dragged shares of a whole host of companies which manufacture components for Apple devices such as iPhone and iPad, many of whom rely on the California company for a significant proportion of their revenues.

Here's a snapshot of the carnage as of around 1.20 p.m. GMT (8.20 a.m. ET):

AMS, an Austrian firm which produces facial recognition sensors used in the iPhone X, has lost 20% and is the biggest faller on the Stoxx 600 index of major European companies.

The Switzerland headquartered STMicroelectronics, which builds imaging and proximity sensor products used in Apple's iPhone X, is 9.2% lower Thursday.

Dialog Semiconductor, a UK-based semiconductor maker with an exclusive contract to make power management circuits for iPhone, iPad, and Apple Watch has seen its Frankfurt-listed shares fall 8.2%.

Germany's Infineon Technologies, which makes chips for the iPad, has dropped around 4.4%.

Logitech, the Swiss tech accessory maker has lost 5.8%. It supplies accessories sold in Apple retail stores including chargers, mice, and keyboards.

In the US, Advanced Micro Devices, a semiconductor company in California, slumped 2.4% in premarket trading. So-called FAANG peers (Facebook, Apple, Amazon, Netflix and Google) also slumped at least 1% each. Microsoft is down 1.5%.

Apple cited a slowdown in China exacerbated by President Trump's trade war, the strong US dollar, and reduced battery replacement prices as reasons for its revenue slowdown. The company estimates that revenue for the first fiscal quarter would come in around 7.6% lower than a previously expected $84 billion. The original guidance called for revenues between $89 billion and $93 billion.

Away from Apple suppliers, financial markets in general have been hit by news of Apple's weaker than expected performance, with major share indexes around the world losing ground in the European morning.